An article that hammers its anti-German theme at the end of almost all paragraphs. Not much give and take with this author!
Amazing drama!
bump for later
Gimme a break! German war crimes seventy years ago do not excuse profligacy in Cyprus today. So, basically, when the Cypriots borrow money, they have their fingers crossed and say, we promise to pay it back... with German taxpayers money!
The euro is doomed from the start. It is not backed by anything, neither is the US dollar.
My advice, Hold Gold.
http://www.gatestoneinstitute.org/3534/jakob-augstein-anti-semite
We are to believe what this POS writes?
“they’re (the Germans) binding other nations with the shackles of debt”.
What a ridiculous statement that only a Liberal could make.
Germany didn’t drive the PIIGS+ into debt. They did it to themselves, for decades, as conservatives warned of the consequences. Germany spent within its means, & out produced them all.
Something else:
The raid on deposits in Cyprus is a warning to debt ridden EU countries that refuse to accept austerity programs: There are worse things than austerity; & there comes a moment when austerity isn’t enough & confiscation of private assets is the only solution to save the country.
Note how the original plan was to tax all deposits with 2 tier rates. That was never gonna happen without massive riots in the streets, but it got EVERYBODY’S attention, EU wide. The current plan is still legalized theft, but affects far fewer Cypriots & resident foreigners, while still being fair warning for the rest of the spendthrift EU countries.